Guideline Value for Union Carbide Colony 7th Street

Union Carbide Colony 7th Street guideline value

The current guideline value for Union Carbide Colony 7th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Union Carbide Colony 7th Street has changed

Over the years, the guideline value for Union Carbide Colony 7th Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the value to Rs 2,700 per sq.ft, marking a 61% increase from 2017. Overall, from 2012 to 2024, there has been an 8% increase.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 in the register for this street. The 2012 to 2017 period saw a decrease of 33% in the guideline value.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value in this village is Rs 2,700 per sq.ft, which is equal to the current guideline value for Union Carbide Colony 7th Street.

• Union Carbide Colony 6th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 8th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 9th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 5th Cross Street Extension: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Union Carbide Colony 7th Street?

The Sub Registrar Office that covers Union Carbide Colony 7th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller engages in a property transaction, the guideline value must be considered to determine the applicable fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Union Carbide Colony 7th Street?

The current guideline value of Union Carbide Colony 7th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur have a guideline value of Rs 2,700 per sq.ft as well, which is the same as Union Carbide Colony 7th Street. This includes Union Carbide Colony 6th, 8th, 5th, 9th, and 4th Streets, among others.

How is stamp duty calculated for properties in Union Carbide Colony 7th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.